11901 S San Pedro St
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11901 S San Pedro St
24 Unit Apartment Building $2,600,000 ($108,333/Unit) 7.26% Cap Rate Los Angeles, CA 90061
Investment Highlights
- Lot is entire block: Street-to-street; corner-to-corner
- Very high demand bread 'n butter units
- Development potential
- Security gates surround property
- Fenced off-street 31 parking spaces
- May be possible to add units
Executive Summary
Price reduced again. Street-to-street lot, the entire block with access from three streets. High demand Bread ‘n butter units. Very low vacancy rate. Secure off-street parking (31 spaces). A security fence surrounds the entire property with code-entry security gate. New roof in 2017. Easy commute from this high demand rental area. Eligible for bonus rent increases. Shown on accepted offers. Please do not disturb the tenants. See attached Offering Memorandum for rent rolls, expenses, and more information.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$282,696
|
$29.98
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$2,827
|
$0.30
|
| Effective Gross Income |
$279,869
|
$29.68
|
| Taxes |
$32,500
|
$3.45
|
| Operating Expenses |
$58,692
|
$6.22
|
| Total Expenses |
$91,192
|
$9.67
|
| Net Operating Income |
$188,677
|
$20.01
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $282,696 |
| Annual Per SF | $29.98 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $2,827 |
| Annual Per SF | $0.30 |
| Effective Gross Income | |
|---|---|
| Annual | $279,869 |
| Annual Per SF | $29.68 |
| Taxes | |
|---|---|
| Annual | $32,500 |
| Annual Per SF | $3.45 |
| Operating Expenses | |
|---|---|
| Annual | $58,692 |
| Annual Per SF | $6.22 |
| Total Expenses | |
|---|---|
| Annual | $91,192 |
| Annual Per SF | $9.67 |
| Net Operating Income | |
|---|---|
| Annual | $188,677 |
| Annual Per SF | $20.01 |
Property Facts
| Price | $2,600,000 | Apartment Style | Low Rise |
| Price Per Unit | $108,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.64 AC |
| Cap Rate | 7.26% | Building Size | 9,429 SF |
| Gross Rent Multiplier | 9.2 | Average Occupancy | 100% |
| No. Units | 24 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1923 |
| Property Subtype | Apartment | Parking Ratio | 3.2/1,000 SF |
| Price | $2,600,000 |
| Price Per Unit | $108,333 |
| Sale Type | Investment |
| Cap Rate | 7.26% |
| Gross Rent Multiplier | 9.2 |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.64 AC |
| Building Size | 9,429 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1923 |
| Parking Ratio | 3.2/1,000 SF |
Unit Amenities
- Heating
- Kitchen
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 21 | - | - |
| 3+1 | 1 | - | - |
| 2+1 | 2 | - | - |
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PROPERTY TAXES
| Parcel Number | 6083-027-024 | Total Assessment | $892,154 (2024) |
| Land Assessment | $579,328 (2024) | Annual Taxes | $32,500 ($3.45/SF) |
| Improvements Assessment | $312,826 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
6083-027-024
Land Assessment
$579,328 (2024)
Improvements Assessment
$312,826 (2024)
Total Assessment
$892,154 (2024)
Annual Taxes
$32,500 ($3.45/SF)
Tax Year
2023
zoning
| Zoning Code | R3-1, Los Angeles |
| R3-1, Los Angeles |
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Presented by
Corcoran Group of California
11901 S San Pedro St
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